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India’s Smartphone Exports Hit $3 Billion In January; Soar By 140%

India’s smartphone exports saw a record-breaking 140% year-on-year surge in January 2024, reaching ₹25,000 crore ($3 billion).

This historic high was driven by increased production and overseas shipments from global tech giants Apple and Samsung, according to industry estimates.

For the April 2023 -January 2024 period, India’s total smartphone exports hit ₹1.55 lakh crore, a 56% increase from ₹99,120 crore in the previous financial year.

Apple Leads The Export Boom

Apple dominated India’s smartphone exports, contributing nearly 70% of total shipments. Among its major manufacturing partners:

Foxconn (Tamil Nadu): Led exports with 50% share, growing 43% year-on-year.
Tata Electronics (Karnataka): Contributed 22% of iPhone exports after acquiring Wistron’s factory.
Pegatron (Tamil Nadu): Accounted for 12% of exports; Tata acquired a 60% stake in Pegatron in January.

Tata Electronics has now emerged as a key iPhone manufacturer in India, with its acquisitions of Wistron and Pegatron signaling India’s growing role in Apple’s supply chain.
Meanwhile, Samsung accounted for 20% of total smartphone exports, further strengthening its Indian manufacturing base.

PLI Scheme Boosts India’s Mobile Manufacturing

India’s Production Linked Incentive (PLI) scheme has been a game-changer, attracting major tech manufacturers looking to diversify supply chains beyond China.
Union Minister of State for Electronics and IT Jitin Prasada informed Parliament recently:
“Due to the policies of the government for promotion of electronics manufacturing, India has become a mobile phone exporter now from a mobile importing country in 2014- 15,”

₹10,213 crore invested in Indian electronics manufacturing (as of Dec 2024).
1.37 lakh+ direct jobs created.
₹6.62 lakh crore worth of electronics produced.
Mobile phone production grew 5x from 60M units (2014-15) to 330M units (2023-24).

India Transforms From Importer To Mobile Export Hub

India has transitioned from a mobile phone importer to an exporter within a decade:

In 2014-15, India imported 74% of the mobile phones sold.
By 2024, India will produce 99.2% of the mobile phones used domestically.
Mobile phone exports surged from ₹22,868 crore (2020-21) to ₹1,29,074 crore (2023-24), growing at a CAGR of 78%.

Smartphone Exports From India To Reach $20 Billion By 2025

Union Minister Ashwini Vaishnaw expects India’s smartphone exports to touch $20 billion (₹1.68 lakh crore) in 2024-25.
With continued government support and rising global demand, India is strengthening its position as a major player in the global smartphone market.

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Anamika Agarwala